§1831k — Title 12 Banks and Banking | U.S. Code

Summary

A federal banking agency, with the Attorney General’s approval, can pay a reward to someone who gives original information that leads to recovering criminal fines, restitution, civil penalties, or certain forfeitures tied to violations of federal banking laws or to certain federal crimes that affect FDIC‑insured banks. The reward can be at most 25% of what is recovered or $100,000, whichever is less. No reward can go to a government officer or employee who gave the information as part of their job. No reward can go to anyone who helped cause or took part in the illegal act or who knowingly or recklessly gave false information. The agency’s decision about a reward is final and cannot be reviewed by a court.

Title 12, §1831k

Banks and Banking — Source: USLM XML via OLRC

(a)An appropriate Federal banking agency, with the concurrence of the Attorney General, may pay a reward to a person who provides original information which leads to—

(1)recovery of a criminal fine, restitution, or civil penalty—

(A)under—

(i)this chapter;

(ii)the Federal Credit Union Act [12 U.S.C. 1751 et seq.];

(iii)section 93(b), 164, or 481 to 485 of this title;

(iv)the Federal Reserve Act [12 U.S.C. 221 et seq.];

(v)the Bank Holding Company Act Amendments of 1970;

(vi)the Bank Holding Company Act of 1956 [12 U.S.C. 1841 et seq.];

(vii)the Home Owners’ Loan Act [12 U.S.C. 1461 et seq.]; or

(viii)section 3663 of title 18 pursuant to a conviction for an offense referred to in subparagraph (B) of this paragraph,

(B)pursuant to a conviction for an offense under section 215, 656, 657, 1005, 1006, 1007, 1014, 1341, 1343, or 1344 of title 18 affecting a depository institution insured by the Federal Deposit Insurance Corporation, or for a conspiracy to commit such an offense; or

(C)under section 1833a of this title; or

(2)a forfeiture under section 981 or 982 of title 18 that arises in connection with a depository institution insured by the Federal Deposit Insurance Corporation.

(b)An appropriate Federal banking agency may not pay a reward under subsection (a) of more than 25 percent of the amount of the fine, penalty, restitution, or forfeiture or $100,000, whichever is less.

(c)An appropriate Federal banking agency may not pay a reward under subsection (a) to—

(1)an officer or employee of the United States or of a State or local government who provides information described in subsection (a), obtained in the performance of official duties; or

(2)a person who—

(A)deliberately causes or participates in the alleged violation of law or regulation, or

(B)knowingly or recklessly provides substantially false information to such an agency or the Attorney General.

(d)Any agency decision under this section is final and not reviewable by any court.

Notes & Related Subsidiaries

Editorial Notes

References in Text

The Federal Credit Union Act, referred to in subsec. (a)(1)(A)(ii), is act June 26, 1934, ch. 750, 48 Stat. 1216, which is classified generally to chapter 14 (§ 1751 et seq.) of this title. For complete classification of this Act to the Code, see section 1751 of this title and Tables. The Federal Reserve Act, referred to in subsec. (a)(1)(A)(iv), is act Dec. 23, 1913, ch. 6, 38 Stat. 251, which is classified principally to chapter 3 (§ 221 et seq.) of this title. For complete classification of this Act to the Code, see

References in Text

note set out under section 226 of this title and Tables. The Bank Holding Company Act

Amendments

of 1970, referred to in subsec. (a)(1)(A)(v), is Pub. L. 91–607, Dec. 31, 1970, 84 Stat. 1760. For complete classification of this Act to the Code, see

Short Title

of 1970 Amendment note set out under section 1841 of this title and Tables. The Bank Holding Company Act of 1956, referred to in subsec. (a)(1)(A)(vi), is act May 9, 1956, ch. 240, 70 Stat. 133, which is classified principally to chapter 17 (§ 1841 et seq.) of this title. For complete classification of this Act to the Code, see

Short Title

note set out under section 1841 of this title and Tables. The Home Owners’ Loan Act, referred to in subsec. (a)(1)(A)(vii), is act June 13, 1933, ch. 64, 48 Stat. 128, which is classified generally to chapter 12 (§ 1461 et seq.) of this title. For complete classification of this Act to the Code, see section 1461 of this title and Tables.

Amendments

1994—Subsec. (a)(1)(A)(iii). Pub. L. 103–325, § 602(a)(62), substituted “section” for “sections” and “or” for “and”. Subsec. (a)(2). Pub. L. 103–325, § 602(a)(63), inserted period at end. 1990—Subsec. (a)(1). Pub. L. 101–647, § 2586(1), struck out “, in an amount that exceeds $50,000,” after “recovery” in introductory provisions. Subsec. (a)(2). Pub. L. 101–647, § 2586(2), amended par. (2) generally. Prior to amendment, par. (2) read as follows: “a forfeiture under section 981 or 982 of title 18 that— “(A) arises in connection with a depository institution insured by the Federal Deposit Insurance Corporation; and “(B) exceeds $50,000.”

§1831k Reward for information leading to recoveries or civil penalties

Summary

Title 12, §1831k

Notes & Related Subsidiaries

Editorial Notes

References in Text

References in Text

Amendments

Short Title

Short Title

Amendments

Citations & Metadata